MACON, Georgia (41NBC/WMGT) — The small business association has announced a new set of PPP loans that it hopes will benefit a broader set of businesses.
The new loans target minority and female-owned businesses, or businesses with very few employees.
Solomon Sands, the owner of Global Sole in downtown Macon, calls applying for the PPP loans “irritating.”
“It’s definitely been frustrating, I’m not going to lie,” Sands said. “I’ve seen a lot of people who weren’t necessarily supposed to get it. We’re the people that haven’t gotten the money that actually needs it and deserve it.
Sands applied for the first PPP loan in 2020, however, his business has yet to receive the money. However, he remains hopeful that this loan will give his business a boost.
“It helps us with inventory because we’re in a product-based business,” Sands explained. “The more product we have, the more product we sell, and the more money we make.”
Josh Rogers, the director of Newtown Macon, says his organization appreciates that more downtown businesses can apply for loans now. He says several businesses did not qualify for the first round of loans and have struggled through the pandemic.
“We’ve had a few businesses come in and now they’re struggling,” Rogers said. “When these programs first started several businesses decided not to take the benefits. Unfortunately, the way the government works is that there’s an opening, funding, and then it closes.”
Newtown offers free advice and instructional videos that explain how to apply for the PPP loans.
According to the SBA, those business owners qualify for the new loans:
- those behind on student loan payments
- formerly convicted felons
- non-profit organizations
Rogers encourages all businesses to apply for the loans as soon as possible.
“I’m very hopeful, things are looking a lot better and that we can return to ‘normal’ soon, but there’s no way to know for certain,” Rogers stated. “Our advice is if you’re eligible for these relief programs you ought to apply.”
PPP Loans application date
Businesses with fewer than 20 employees must apply for the loan by March 9. Other businesses can apply from March 10 until March 31.